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Northrop Grumman NOC Defense Systems — Goodwill

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Other financials

Income statement

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Revenue$10.9B+5.1%
Operating income$1.1B-23.1%
Net income$1.1B-6.8%
EPS (diluted)$7.68-5.8%

Balance sheet

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Cash & equivalents$2.3B+21.5%
Total debt$17.1B-2.6%
Total equity$17.9B+15.6%
Total assets$50.8B+2.7%

Cash flow

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Operating cash flow-$1.7B-5.8%
CapEx$302.0M+30.7%
Free cash flow-$1.8B-0.1%

Valuation

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Market cap$75.98B-8.0%
Enterprise value$90.73B-7.6%
P/E16.9×-4.0×
P/S1.8×-0.3×

Profitability

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Operating margin10.7%+0.3pp
Net margin10.5%+0.7pp
FCF margin7.8%+3.4pp

Returns & leverage

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Return on equity27%+0.5pp
Debt / equity-0.2×
Current ratio1.2×+0.1×

Where this comes from

Reported directly by Northrop Grumman in its filing.

Tagged under the XBRL concept us-gaap:Goodwill.

The official record: Northrop Grumman’s 10-K, filed January 27, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Northrop Grumman's defense systems — goodwill?
Northrop Grumman (NOC) reported defense systems — goodwill of $3.64B in Q4 2025.
How has Northrop Grumman's defense systems — goodwill changed year-over-year?
Northrop Grumman's defense systems — goodwill decreased by 2.0% year-over-year, from $3.72B to $3.64B.
What does defense systems — goodwill mean?
This represents the intangible asset value recorded when the Defense Systems segment acquires another business for a price exceeding the fair market value of its net identifiable assets. It reflects the premium paid for synergies, brand reputation, and specialized defense technology capabilities within this specific reporting unit. Monitoring this balance is essential for assessing the historical acquisition strategy and potential future impairment risks.